If you want to do a startup have these things: * $30,000-$40,000 in the bank. This provides flexibility without strings attached. * Have an idea you are willi

If you want to do a startup have these things: * $30,000-$40,000 in the bank. This provides flexibility without strings attached. * Have an idea you are willing to work on and flesh out for a year before seeking funding. This will determine if the idea is important enough to you and moves you closer to MVP. If you don’t have an intense passion for the idea/product then it’s just a fundraising con job. * Find one or two cofounders. If you are the builder then find a finance guy who can make projections, do all the accounting, understands business taxes and so forth. You will probably also want an operations guy who keeps the lights on at night, understands all the relevant regulations, and knows all the right people in government and industry. * If the start up fails then you are just unemployed. That’s not something to worry about. I would worry more about the lost and unrecovered personal assets, financial liabilities, and any legal liabilities. Just trying to shield yourself from much of that risk by making proper informed decisions up front. * If you are independently wealthy enough to piss away cash into the wind, like a trust fund baby, then do whatever you want. Otherwise, have a good idea first. You will know it when you have it because it does something nobody else can, but it won’t be obvious to anyone else. * In the meantime just get smart: objective, empathetic, good with people, well educated, well read, well rounded, solid with management of both people and assets. I see a lot of stupid and ignorant shit in comments on HN. Learn to really recognize that stupid shit in yourself and others to ward off risk from bad decisions.